Following in the footsteps of Bollywood actors, cricketers, cartoonists, and other artists, broadcaster Viacom18 has announced the establishment of Fullyfaltoonft.com, a non-fungible tokens store.
The marketplace, which is being developed by Viacom18’s Youth, Music, and English Entertainment (YME) cluster, which includes Viacom18’s youth brand MTV, is set to launch next month.
On February 14, the first drop will include popular MTV digital artwork that was conceptualised and created by the MTV staff.
Last year, trade in NFTs, blockchain-based digital assets, saw a massive increase. According to data tracker DappRadar, NFTs had a trade volume of over $23 billion last year, and 2022 has already begun with at least three NFT sales of over $5 million each.
“When we first considered getting into NFTs last year, we were clear that we wanted to be in it for the long haul. According to reports, Anshul Ailawadi, Head – YME, Viacom18, said, “We have this tradition that we wanted to continue to build on.”
Many people thought NFTs were a fad, but with the metaverse becoming official last year and discussions of NFTs being used for utility and satisfaction, the corporation decided to enter the space.
“The global Media and Entertainment industry has recognised the power of NFTs in India – as one of the world’s largest media markets – is uniquely positioned to be at the focal point of this ‘Web3 revolution’,” Ailawadi added. “Our entry in the NFT space with Fully Faltoo is another step in the same direction. The Fully Faltoo collection will be edgy and quirky. This is special for us as we’re giving our fans a chance to own a unique piece of our legacy. We look forward to building FullyFaltoonft.com as the go-to destination for must-have digital art.”
GuardianLink.io, a pioneer and inventor of NFT Technologies, has launched Fullyfaltoonft, which will use GuardianLink.io’s Anti-RIP AI Spyder technology. The technology prevents the NFT from being replicated, safeguarding the owner’s unique rights, which is currently an issue in the NFT market.
The NFT drop will also be based on the environmentally sensitive Polygon blockchain, which is over 99.99 percent more carbon efficient than Ethereum.
The limited-edition collectibles will include designs inspired by legendary pop culture properties such as ‘Roadies’ and ‘Bakra,’ and will be auctioned off around the world. The NFTs will be available for purchase at a specified auction price.
“We’ve been very careful in terms of the IPs. As there’s this grey zone of who really owns the NFT, because the underlying work could be someone else’s. So from the beginning, we want to keep the clarity that we have the ownership. Also, we’ve chosen on the fiat currency to settle and haven’t opted for payment in crypto, again because the laws are evolving there,” said Ailawadi.
Viacom18 intends to launch an integrated marketing effort to ensure widespread awareness of its first NFT marketplace, which will take advantage of Viacom18’s digital and linear TV footprint.